The following are the market sales statistics for Orlando, Orange County, Florida for March 2010. Orlando is made up of a multitude of zip codes. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.
A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.
The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.
The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.
There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.
Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.
Single-Family Homes
773 homes sold during the month of March.
The average sales price is $162,397 with 132 days on the market.
The median sales price is $139,000.
The sales to list price ratio is 97%.
The most expensive home sold for $1.99M in Lake Nona and was on the market 660 days.
The least expensive home sold for $14,500 in Angebilt after 38 days on the market.
The average sales price for the same period a year earlier was $170,092 with 130 days on the market and a sales to list price ratio of 94% on 581 sales, an increase of 33%.
The month to month changes show an increase in the average sales price of 8% and an increase in the median sales price of 4%. There was an increase in the sales volume of 48% with a 1% increase in the sales to list price ratio.
Condos, Townhomes & Villas
572 homes sold
The average sales price was $68,470 with 118 days on the market.
The median sales price was $50,000.
The sales to list price ratio is 101%.
The most expensive condo sold for $535,000 in Lake Nona and was on the market 425 days.
The least expensive sold for $7000 in Tymber Skan on the Lake Condo and was on the market for 109 days.
The average sales price for the same period a year earlier was $76,834 with 121 days on the market and a sales to list price ratio of 95% on 307 sales, an increase of 86%.
The month to month changes show an increase in the average sales price of less than 1% and a decrease in the median sales price of 6%. There was an increase in sales volume of 40% with a 1% increase in the sales to list price ratio.
For information on Orlando real estate and Orlando homes for sale in addition to Orlando relocation contact Marc Grossman, your Orlando Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.
To learn more about Marc and the services he has to offer, visit his website.
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker
Marc donates 10% of his net proceeds to Hospice of the Comforter.
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